Earlier today, we revealed that another step towards the mainstream adoption of Bitcoin and crypto has been made. Check out the tweet that Anthony Pompliano dropped.
BREAKING: The President of El Salvador just announced that he is making Bitcoin legal tender in his country.
This is the first country to take such a courageous step, but it won’t be the last.
— Pomp 🌪 (@APompliano) June 5, 2021
Pomp also said: “There are many people to thank for their efforts in making this historic day happen. We all must extend a special thanks [email protected] and the team at Strike.”
Crypto Twitter addresses the importance of this movement and the powerful example that this will make towards the adoption of BTC and digital assets globally.
Powerful thread on the importance of El Salvador’s proposal to make #Bitcoin legal tender. https://t.co/DltnxEoHbd
— The Wolf Of All Streets (@scottmelker) June 6, 2021
Check out the video below:
https://www.youtube.com/watch?v=l04Ohwg_Qpw
Avik Roy said: “There are many reasons why this is significant. 1/ in the US, #bitcoin is treated by the IRS as property, which means that every time you try to spend it it’s a taxable event. If $BTC is now a currency, it can be spent in a non-taxable way just like Euros or British pounds.”
We suggest that you check out the complete thread in order to learn all the reasons for which this move is so crucial for the whole crypto space.
Important names are bullish on BTC
There are various names who are bullish on BTC these days and one of them is Jack Dorsey.
“Bitcoin changes absolutely everything,” Dorsey said Friday at the Bitcoin 2021 Conference.
He continued and said: “I don’t think there is anything more important in my lifetime to work on.”
In fact, “if I were not at Square or Twitter, I would be working on bitcoin. If [bitcoin] needed more help than Square or Twitter, I would leave them for bitcoin,” he said. “But, I believe both companies have a role to play.”
Head over to CNBC’s original article in order to learn more details about what Dorsey had to say.
